Solve the Problem $\$ 14,000$ Is Invested With $4 \%$ Interest for 5 Yr Under the Following Compounding Options

Multiple Choice

Solve the problem.
-Suppose $\$ 14,000$ is invested with $4 \%$ interest for 5 yr under the following compounding options. Complete the table.
$\begin{array}{l|l|l|l} & \text { Compounding Option } & n \text { Value } & \text { Result } \\\hline \text { a. } & \text { Daily } & & \\\text { b. } & \text { Continuously } & &\end{array}$

A)
$\begin{array}{l|l|c|c} & \text { Compounding Option } & n \text { Value } & \text { Result } \\\hline \text { a. } & \text { Daily } & 365 & \$ 17,099.45 \\\text { b. } & \text { Continuously } & \text { n/a } & \$ 17,099.64\end{array}$

B)
$\begin{array}{l|l|c|c} & \text { Compounding Option } & n \text { Value } & \text { Result } \\\hline \text { a. } & \text { Daily } & 365 & \$ 17,099.45 \\\text { b. } & \text { Continuously } & \mathrm{n} / \mathrm{a} & \$ 17,783.62\end{array}$

C)
$\begin{array}{l|l|c|c} & \text { Compounding Option } & n \text { Value } & \text { Result } \\\hline \text { a. } & \text { Daily } & 1 & \$ 17,033.14 \\\text { b. } & \text { Continuously } & \mathrm{n} / \mathrm{a} & \$ 17,099.64\end{array}$

D)
$\begin{array}{l|l|c|c} & \text { Compounding Option } & n \text { Value } & \text { Result } \\\hline \text { a. } & \text { Daily } & 1 & \$ 17,033.14 \\\text { b. } & \text { Continuously } & \mathrm{n} / \mathrm{a} & \$ 17,783.62\end{array}$